Works from more than 50 galleries, design studios and collectives will be shown at Editions, Dubai. Chris Whiteoak / The National
Works from more than 50 galleries, design studios and collectives will be shown at Editions, Dubai. Chris Whiteoak / The National
Works from more than 50 galleries, design studios and collectives will be shown at Editions, Dubai. Chris Whiteoak / The National
Works from more than 50 galleries, design studios and collectives will be shown at Editions, Dubai. Chris Whiteoak / The National

Time to start collecting? Art Dubai Group launches fair for all budgets


Maan Jalal
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The Art Dubai Group has announced a new fair that aims to present high-quality artworks for all budgets, collectors and enthusiasts.

Called Editions, Dubai, the event will be the first art and design fair in the Middle East to focus on editioned artworks.

An edition refers to a work in which the artist or designer creates multiple impressions made in the same mediums, which can run from unique to open runs.’

Works from more than 50 galleries, design studios and collectives will be shown at the event.

“Our hope is that Editions will provide our existing audiences, as well as new collectors and art enthusiasts, an approachable access point into the world of contemporary art and design,” Benedetta Ghione, executive director of Art Dubai tells The National exclusively.

“We aim to do so while adding to the cultural offer of Dubai as it expands and continues to provide opportunities for local and regional creatives to be discovered and appreciated.”

Editions, Dubai will run from November 6 to 9 alongside Downtown Design, the contemporary design fair, which takes place during Dubai Design Week at Dubai Design District.

The works expected to be presented at the fair will range in medium and style and will include contemporary design pieces, prints, photography, ceramics and works on paper. These pieces will be offered at a range of price points and will be exhibited exclusively at Editions, Dubai.

Mette Degn-Christensen, the director of Downtown Design, says the aim of the fair is "to offer collectors and design enthusiasts the chance to diversify their portfolio and discover high-quality art and design works from leading creatives around the world, with a spotlight on the region and emphasis on craft and artisanship".

Editions, Dubai will present an opportunity to people who are interested in investing in art to start their collection from an accessible price point. Antonie Robertson/The National
Editions, Dubai will present an opportunity to people who are interested in investing in art to start their collection from an accessible price point. Antonie Robertson/The National

The Art Dubai Group, established in 2007, has created several platforms that have established and continue to enrich the arts and cultural landscape in Dubai and across the region. Two of its popular events are Art Dubai, one of the region’s most popular art fairs, and Downtown Design.

“Art is essential for our growth, and for our understanding of the world,” says Pablo del Val, artistic director of Art Dubai.

“The act of collecting itself is a very meaningful experience as, when you collect you are building connections with creatives, collaborating with artists and designers, and inevitably building up a historical narrative of the place where you are based.”

A recent Artsy Art Fair Report 2024 ranked Dubai seventh in their list of most important art fair cities in the world, coming in just after Los Angeles. The report also found that the main reason why galleries participate in art fairs around the world is to meet new collectors.

The establishment of a new art fair in the region, one that focuses on collecting works, not only aligns with these findings but also comes at a time in Dubai where the city is experiencing a significant influx of post-pandemic high-net-worth residents and those interested in starting their own collection from varying price points, says del Val.

“Budget is not a restriction of art collection either,” he says. “You can create amazing collections whatever your budget, and so Editions will be a great place to start or build your collection.”

Editions, Dubai will run from November 6-9 alongside Downtown Design at Dubai Design District

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

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Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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Updated: September 16, 2024, 9:55 AM